0
General

ZTE losses swell to over USD 3 billion due to US ban - report

Wednesday 23 May 2018 | 08:36 CET | News
ZTE has lost at least CNY 20 billion (USD 3.1 billion) from the US ban on exports to the company, as clients pull out of deals and expenses mount, people familiar with the matter told Bloomberg. However, it has a restart plan in place to pick up operations again quickly if the US government softens its stance. 

Thank you for visiting Telecompaper

We hope you've enjoyed your free articles. Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General
Companies: ZTE
Countries: World
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

ZTE confirms FY loss of CNY 7 billion, sees return to profit in Q1

Published 27 Mar 2019 14:41 CET | World
ZTE confirmed a net loss of CNY 6.98 billion for 2018, hurt by the USD 1 billion payment to settle its dispute with US ...

ZTE posts H1 loss of CNY 7.8 bln as revenues fall 27%, sees return to profit in Q3

Published 30 Aug 2018 14:42 CET | World
ZTE reported a net loss of CNY 7.8 billion for the first half of 2018, in line with its earlier warning over the impact of the US ...

US lifts ban on sales to ZTE after USD 1.4 bln in fines

Published 16 Jul 2018 08:48 CET | United States
ZTE has resumed operations after the US government lifted a ban on sales to the Chinese company. ZTE paid a USD 1 billion fine ...

ZTE names new top management, Xu to become CEO

Published 05 Jul 2018 12:06 CET | China
ZTE has named Xu Ziyang, president of its Telecom Cloud and Core Network product line, as its new CEO, replacing Zhao Xianming. ...

ZTE looking for USD 10.7 bln credit line, proposes 8 new board members - report

Published 15 Jun 2018 12:01 CET | China
ZTE said it has established a compliance committee to fulfil the requirements put out by the US government to lift its supplier ...

US Senate looking to block Trump's ZTE deal with China

Published 12 Jun 2018 09:59 CET | United States
A bipartisan group of lawmakers has successfully pushed for the inclusion of a bill to reverse president Donald Trump's decision ...

ZTE replaces executive as China seeks to lift US ban - report

Published 01 Jun 2018 08:55 CET | China
ZTE has replaced one of its "most powerful" executives, in a move that may signal its ready to comply with US government demands, ...

'Verlies ZTE wegens exportban al meer dan 3 miljard'

Published 23 May 2018 08:50 CET | World
ZTE heeft inmiddels zo'n 20 miljard yuan, omgerekend zo'n 3,1 miljard dollar, verloren als gevolg van de exportban die is ...

US agrees to lift ZTE ban in trade deal with China - report

Published 22 May 2018 08:42 CET | United States
The US and China have agreed a deal that would lift the export ban against ZTE, allowing the company to continue business after ...

US House committee seeks to stop renegotiation of ZTE ban

Published 18 May 2018 08:59 CET | United States
The US Congress is looking to stop the White House from softening the ban on ZTE. The House Appropriations Committee unanimously ...

Trump says to work with China to get ZTE 'back in business fast'

Published 14 May 2018 08:27 CET | China
US President Donald Trump said he is working with China to limit job losses at ZTE and help the Chinese company "get back in ...

ZTE requests stay of US export ban

Published 07 May 2018 06:29 CET | United States
ZTE announced that it's filed a formal request for a stay of the export ban imposed by the US government against the company. The ...

US govt plans more restrictions on buying foreign telecom gear - report

Published 03 May 2018 10:37 CET | United States
The US government is considering executive action to further restrict the sale of Chinese telecommunications equipment in the US, ...

ZTE delays Q1 report, still assessing impact of US ban

Published 19 Apr 2018 08:29 CET | World
ZTE has delayed the publication of its first-quarter results from a scheduled date of 19 April. The company said it is still ...

ZTE banned from buying US components for 7 years

Published 17 Apr 2018 08:58 CET | United States
ZTE has been banned from buying components or parts from the US for seven years, after the US Commerce Department said the ...





Calendar   /   Industry Events

21 Feb Vodafone Iceland Q4 2019
21 Feb Proximus Q4 2019
21 Feb Megacable Q4 2019
21 Feb TDS, US Cellular Q4 2019
21 Feb Digi Communications FY results
24 Feb Arlo Q4 2019
24 Feb Palo Alto Networks fiscal Q2
25 Feb Iridium Q4 2019
25 Feb Infinera Q4 2019
25 Feb Millicom Q4 2019
25 Feb American Tower Q4 2019
25 Feb Utility Telecoms 2020
26 Feb Avast FY results
26 Feb Crown Castle Q4 2019
26 Feb Syn Q4 2019
26 Feb Box Q4 2019
26 Feb Shentel Q4 2019
26 Feb Sina Q4 2019
26 Feb Weibo Q4 2019
26 Feb Orbcomm Q4 2019
27 Feb Dell Technologies fiscal Q4
27 Feb VMware Q4
27 Feb Neophotonics Q4 2019
27 Feb Cogent Communications Q4 2019
27 Feb Cable One Q4 2019
27 Feb Baidu Q4 2019
27 Feb Netia Q4 2019
27 Feb Sunrise Q4 2019
27 Feb Interxion EGM
28 Feb Tecnotree FY 2019
::: More Calendar Items